Ms. Christine Kennedy reports

WOODFIBRE LNG SIGNS THIRD SALES AGREEMENT WITH BP

Enbridge Inc.'s Woodfibre LNG has now committed all of its offtake for sale to bp Gas Marketing Ltd. (BPGM), a wholly owned indirect subsidiary of bp PLC, with a total firm LNG (liquefied natural gas) offtake of 1.95 million tonnes per annum (MTPA) and the remainder on a flexible basis.

Woodfibre LNG LP has signed a third LNG sales and purchase agreement (SPA) with BPGM for the delivery of LNG from the Woodfibre LNG export facility near Squamish, B.C. Under the terms of this SPA, BPGM will receive an additional 450,000 TPA of LNG over 15 years on a free-on-board (FOB) basis.

"Canada, and particularly British Columbia, is uniquely positioned to take the lead on exporting lower-carbon LNG overseas as part of the global energy transition. Today's announcement demonstrates there is demand for lower-carbon energy today and well into the future," said Christine Kennedy, president of Woodfibre LNG.

"We look forward to working with BPGM as the offtaker from the Woodfibre LNG project to deliver Canadian LNG from one of the lowest-carbon-intensive LNG export facilities in the world. The global demand for lower-carbon energy makes Woodfibre LNG a supplier of choice in the energy transition," said Ratnesh Bedi, Pacific Energy president.

"As a leader in the energy transition and partner in the Woodfibre LNG project, Enbridge is pleased with today's announcement. Woodfibre LNG will play an important role in providing global LNG markets with a safe, secure and sustainable source of natural gas produced by one of the lowest-emission LNG facilities in the world," said Cynthia Hansen, Enbridge executive vice-president and president of gas transmission and mid-stream.

Woodfibre LNG is scheduled to begin construction in September this year and operations will begin in 2027.

About Woodfibre LNG

The Woodfibre LNG project is owned by Woodfibre LNG LP, owned 70 per cent by Pacific Energy Corp. (Canada) Ltd. and 30 per cent by Enbridge. The Woodfibre LNG facility is being built on the site of the former Woodfibre pulp mill site, which is located about seven kilometres southwest of Squamish, B.C.

Woodfibre LNG will source its natural gas from Pacific Canbriam Energy, a Canadian company with operations in northeastern British Columbia. Pacific Canbriam is an industry leader in sustainable natural gas production. Woodfibre LNG and Pacific Canbriam Energy are subsidiaries of Pacific Energy. Woodfibre LNG is the first industrial project in Canada to recognize a non-treaty indigenous government, Skwxwuwxwu7mesh Uxwumixw (Squamish Nation), as a full environmental regulator.

About Enbridge Inc.

Enbridge safely connects millions of people to the energy they rely on every day, fuelling quality of life through its North American natural gas, oil or renewable power networks and its growing European offshore wind portfolio. The company is investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on two decades of experience in renewable energy to advance new technologies, including wind and solar power, hydrogen, renewable natural gas, and carbon capture and storage. Enbridge is committed to reducing the carbon footprint of the energy it delivers, and to achieving net-zero greenhouse gas emissions by 2050.